While documentarian Liam Le Guillou wisely leaves the mystery open at the end, he also doesn’t fail to point out what he thinks went down with the help of various experts and investigators, Russian and American. Certain popular theories, including the outlandish ones, are ruled out for one good reason or another, which leaves the most obvious scenario. While Liam doesn’t spell out his answer, the documentary insinuates it.
Beyond that, the film's worthwhile for learning about the nine victims, as well as the inaccessible region in general (Yekaterinburg being the closest city, which is 340 miles to the south; and the closest small town like 60 miles away).
So what is the "most obvious scenario" based on what the experts in this documentary conclude?
They claim the nine hikers were murdered. According to this theory, the murderers did something to terrify the sleeping hikers, which made them flee their tents without proper attire. The assailants knew they'd soon die of hypothermia in the freezing cold of night with nowhere to find sanctuary in that desolate region. This explains those who froze to death. A few others were able to make it to the woods and start a fire. Since Plan A didn't work with these, the assailants resorted to Plan B, using blunt force trauma to kill them, whether a club or stomping on them, whatever.
Who did this? The film subtly suggests a band of primitive Khanty (https://en.wikipedia.org/wiki/Khanty). The more peaceable Mansi said there was a savage group of them living in the area, who wouldn't likely take kindly to Soviet invaders to their homeland, especially if the hikers inadvertently marred one of their sacred shrines, which were observed here and there in the deep woods (in the documentary).
So, according to this film, it wasn't an avalanche, it wasn't a government test weapon, it wasn't extraterrestrials and it wasn't the Alma (Yeti). The hikers were murdered by assailants forcing them to die of hypothermia in the freezing cold or using blunt force trauma in the few cases which that didn't work.
While this theory is interesting, there wasn't any evidence at the scene of these supposed assailants, like footprints. The better theory is that 3 feet of shifting snow during the snowstorm suddenly fell on the tent at night, which panicked the nine inhabitants. Fearful of an actual avalanche, they cut themselves out of the tent and fled without proper attire. When they realized an avalanche wasn't going to happen, some tried to make it back to the tent but died of hypothermia in the -13 degrees Fahrenheit weather (it was no doubt difficult to find the camp in those conditions). What happened to the others is well explained in this 11-minute documentary: https://www.youtube.com/watch?v=-5kGWKG0R6c (jump to 7:33 to skip the recap of the entire incident).
The case remains unsolved, of course; that's just the most plausible explanation.
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